Muhammad Alkirom Wildan, Alif Jian Permana Putra, Mochamad Ali Imron

Digital Age; Consumption; Cashless; National Income; Inflation

Fiscal and Monetary policies require macroeconomic analysis to look at the consumption instrument, one of them is household consumption as one of the sources of national income, and inflation along with consumption. Knowing and analyzing the effect of cashless payments, digital payment, national income, and inflation in part on consumption. To make a good policy to be economic well-being, we need to conduct deeper research, and the authors have been conducted the research and tried to explain the macroeconomics issues in the digital age. The research data is secondary data in the form of a quarterly time series from 2010 to 2019 with quantitative analysis. The analysis technique used is the Double Linear Regression analysis technique using the Ordinary Least Square (OLS) model. The results showed that the cashless economy and inflation simultaneously affect the consumption in Indonesia.

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Khugang Moses Wangsa, Dr. Amrendra Kumar

Microfinance; Poverty Alleviation; SHG; Rural Development.

The supremacy of microfinance services emerges from the fact that the various financial services and its other allied complementary non-financial activities that the micro financial institutions deliver are friendly and reliable for the poor individuals. Similarly, another significant essence of microfinance institution is that, in the process of delivering microcredit services it is generally the micro finance institutions that reach out towards the door steps of the poor clients, instead of the poor individuals arriving at the gateway of the financial institutions seeking for assistance. The outcome of microfinance services on poverty alleviation has been measured on the basis of multiple dimensions such as increased in income of the family, improvement in the living standards, increase in family expenditures, rise in socio economic status, advancement in children’s education etc. Hence, though many studies supported that role of microfinance in achieving the long term goal of poverty alleviation, the main challenge in order to draw a proper conclusion is to obtain reliable data for better analysis and understanding.

[1] Bansal, A. K., & Bansal, A. (2012). Microfinance and Poverty reduction in India. Integral Review- A Journal of Management , 31-35.
[2] Dey, S. K. (2015). Challenges and Issues in Microfinance. Journal of economics and sustainable development .
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[4] Feroze, S. M., & Chauhan, A. K. (2011). Microfinance in India: A Performance Evaluation. New Delhi: New Century Publications.
[5] Jha, M. K. (2012). Microfinance and Rural Development: Role of Self-Help Group. New Delhi: Concept Publishing Company Pvt. Ltd.
[6] Nair, T. S. (2018). Microfinance in India Approaches, Outcomes, Challenges.
[7] Nayak, B. B. (2015). The Synergy of Microfinance. New Delhi: SAGE Publications India Pvt Ltd.
[8] Rao, P. S., & Priyadarshini, Y. J. (2013). Credit options to the rural poor: Microfinance as a source of rural credit in India. International Journal of Management and Socil Science Research .
[9] Ravi, S., Vikkraman, P., & Kumaravel, V. (2012). Problems on availing microfinance: A study from India. European journal of economics, finance and administrative sciences .
[10] Saravanan, M. (2016). The impact of Self Help Groups on the Socio- Economic development of rural household women in Tamil Nadu- A Study. International Journal of Research- Granthaalayah .
[11] Shastri, R. K. (2009). Microfinance and poverty reduction in India (A comparative study with Asian Countries). African Journal of Business Management , 136-140.
[12] Sonakia, J. (2020, March 25). Bridge India. Retrieved April 5, 2021, from bridgeinida.org.uk: https://www.bridgeindia.org.uk/the-story-of-microfinance-in-india/#
[13] Verma, R., & Sinha, R. (2012). Micro-Finance- A critical analysis of Rural India. Society for human transformation and research .

Richard Midgley, Dr. Sheerali Arya

Stakeholder Perspective; Business Models; Triple Layered Business; Sustainability.

The Triple Layered Business Model Canvas is a platform for experimenting with new business models that are focused on sustainability. It adds two levels to the original business model canvas: an environmental layer based on a lifecycle perspective and a social layer based on stakeholder perspectives (Cardeal, Höse, Ribeiro, & Götze, 2020). The three layers of the business model, when examined collectively, make clear how an organization generates different sorts of value – economic, environmental, and social. Visually depicting a business model using this canvas tool aids in establishing and communicating a more holistic and integrated perspective of a business model, as well as in creatively innovating towards more sustainable business models (Daou, et al., 2020). This review article analyzes the triple layer business model canvas tool and highlights its essential characteristics. By providing a design tool that structures sustainability challenges in business model innovation, this tool adds to sustainable business model research.

[1] Alibašić, H. (2018). Sustainability and resilience planning for local governments: The quadruple bottom line strategy. Springer International Publishing.
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[3] Badurdeen, F., & Jawahir, I. S. (2017). Strategies for value creation through sustainable manufacturing. Procedia Manufacturing, 8, 20-27.
[4] Baldassarre, B., Calabretta, G., Bocken, N. M., & Jaskiewicz, T. (2017). Bridging sustainable business model innovation and user-driven innovation: A process for sustainable value proposition design. Journal of Cleaner Production, 147, 175-186.
[5] Boons, F., Montalvo, C., Quist, J., & Wagner, M. (2013). Sustainable innovation, business models and economic performance: An overview. Journal of Cleaner Production, 45, 1-8.
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[7] Cardeal, G., Höse, K., Ribeiro, I., & Götze, U. (2020). Sustainable Business Models–Canvas for Sustainability, Evaluation Method, and Their Application to Additive Manufacturing in Aircraft Maintenance. Sustainability, 12(21), 9130.\
[8] Daou, A., Mallat, C., Chammas, G., Cerantola, N., Kayed, S., & Saliba, N. A. (2020). The Ecocanvas as a business model canvas for a circular economy. Journal of Cleaner Production.
[9] Davies, I. A., & Doherty, B. (2019). Balancing a hybrid business model: The search for equilibrium at Cafedirect. Journal of Business Ethics, 157(4), 1043-1066.
[10] Di Laurea, T. (2018). Sustainable business models of B Corps: The case of D’Orica. Thesis, Universita Degli Studi Di Padova, 1-100.
[11] Dugar, D. K. (2019). SME’s of agribusiness in UAE: Strategic sustainable development for better world. Thesis, AERES University of Applied Sciences, 1-48.
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Dr. Vinod Kumar Cherukuri

Scheduled Tribes; Constitutional Provisions; Reserved Constituencies; Election Results.

Electoral victory is based on the decision of voters in any democratic society. Voting behaviour is a form of election behaviour. Elections must represent the free expression of the people’s will to be considered credible. As a result, elections must be open to everyone, inclusive, and responsible. In this aspect, this research paper observes that the electors’ decision regarding Scheduled Tribes candidates in various political parties in 2019 assemble elections and provides the finding of the study.

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[2] Representation of People Act, 1951.
[3] Republic of India Backward Classes Report of the Backward Classes Commission (I-VII),1980.
[4] Ramamani, V.S., “Tribal Economy Problems and Prospects” – Chugh Publications, Allahabad, 1988.
[5] R.G. Singh, The Depressed Classes of India: Problems and Prospects, B.R. Publishing Corporation, New Delhi,1986.
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Dr. Sheerali Arya, Dr. Michelle Guco Simbulan

Strategic Human Resource Management; Corporate Strategies; Highly Skilled Employees; Employee Involvement.

Human Resource Management (HRM) is said to be a distinct methodology of managing employees wherein the main objective is to achieve and sustain advantage over the competition through strategic use of skilled and committed employees through well planned techniques of organizational culture, vision and mission (Storey, 1995). Strategic Human Resource Management (SHRM) is the formulation and implementation of a Hunan Resource (HR) plan incorporating HR strategies and practices that can give competitive advantage and at the same time is aligned with the corporate strategies of organizations (Kaufman, 2001). According to Wright and McMahan (1992), SHRM involves an organized pattern of deploying human resources and HR activities to reach organizational goals. It has been pointed out that some areas need to be explored further in this field including promoting employee involvement, highlighting diversity, and international HRM (Wright, 1998). The theories of SHRM are vital for successful deployment of HR policies as they form the foundation of an organizations strategies and core objectives. Through a thorough understanding of these theories the managers can seek to administer required procedures for the employees.
This paper explored several HRM models that can be aligned to the strategic goals of a semi fictious company called as Vantage Fintech Ltd. The company is a leading bitcoin trading platform in New Zealand and was developed by ex-bankers with backgrounds in computer science, financial engineering, and traditional finance. Having such highly skilled workforce creates challenges for HR as employees are increasingly likely to abandon their employment in favor of other prospects, making it even more challenging for HR to keep the talent pipeline full. The aim of this research is to examine different theories of Strategic HRM like Vroom’s Expectancy model, Guest model, Fombrun model (Michigan Model), Harvard model, and Warwick model to provide wholistic practices which can be adopted by the Managers to retain their high skilled employees while keeping in view the strategic goals of the organization.
Some of the key findings of the paper were while employers have traditionally used benefits to attract and retain employees, they are now particularly targeting certain incentives to highly skilled individuals. Some of the key benefits which can be used to retain these employees were health care, retirement plans, leave benefits and flexible work arrangements. These benefits along with a nourishing workplace environment is imperative for personal and professional development of the employees and overall growth of the Company. The Expectancy theory can be applied in improving Vantage Fintech’s reward system. The Guest model can be used to integrate strategies in HR functions such as Recruitment and Selection, Training and Performance Appraisal. The Fombrun model can be applicable to improve their compensation programme. The Harvard model can be utilized in organizational development and the Warwick model can be utilized in strategic HR planning. It is therefore recommended to align organizational goals with HR practices by utilizing SHRM models and theories to achieve wealth maximization, improvement of performance and employee retention.

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Yusuf Enril Fathurrohman, Tsaltsa Rossy Muldyana

Tea; PT. Perkebunan Tambi; Human Resource Management.

Tea is one of the leading plantation commodities in Indonesia. Most of the tea commodities produced today are exported to the international market. The success of tea plantations in facing the dynamics and challenges of course cannot be separated from the implementation of good human resource management where human resource management is aimed at improving the quality of the company’s workforce. This paper aims to determine the application of human resource management in a tea plantation company in Indonesia (case study: PT. Perkebunan Tambi). The qualitative research method used in this study used an interactive model and took sources from key informants. The results of this study indicated that PT. Perkebunan Tambi implements human resource management starting from planning, recruitment, selection, socialization or orientation, training and development, performance appraisal to promotion, transfer, and termination of employment to increase productivity and quality of its employees.

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[9] D. Indarti, Outlook Teh Komoditas Pertanian Subsektor Perkebunan, vol. 1. 2015.
[10] S. E. Pratama and H. J. Nadapdap, “Strategi Pengembangan Agribisnis Teh PT Perkebunan Tambi Kabupaten Wonosobo [Tea Agribusiness Development Strategy of PT Perkebunan Tambi Wonosobo Regency],” J. Penelit. Pertan. Terap., vol. 19, no. 1, p. 19, 2019, doi: 10.25181/jppt.v19i1.1395.
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[12] N. Anwar, Listiyani, and S. Sastrowiratmo, “Manajemen Sumber Daya Manusia Di Perkebunan Kelapa Sawit Pt. Sawindo Kencana Di Kecamatan Tempilang Kabupaten Bangka Barat [Human Resource Management in Oil Palm Plantation Pt. Sawindo Kencana in Tempilang District, West Bangka Regency],” Agromast, vol. 2, no. 1, pp. 58–66, 2017.
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Dr. A.Thilaha Dharmarajan, U.Ezhilarasi

Work Life Conflict; Work Life Balance; Parental Status

Work-life balance includes a balance between work and personal life that both bring satisfaction to the individual. The quandary for employees that happens today is that when they seek work requests, there is a bounty of adverse consequences on the balance of employees from increased stress, work fatigue, disruption of family and work relationship. In today’s scenario, work life balance is an important challenge. This may trigger stress or decrease employee productivity. It is vital to learn more in particular about the consequences of imbalance on family and community and on changing values among younger workers. This paper is an attempt to identify the correlation between both the Work-Life Conflict and Work-Life Balance. Women employees working in two private organizations at Puducherry were the target respondents. Survey is conducted to assess their level of work life balance. This study attempts to identify the difference in the level of Work-Life Balance of the respondents based on their Parental status.

[1] Adel Ismail Al-Alawi*, Eman Al-Saffar, Zahraa Alomohammedsaleh, Hessa Alotaibi, Ebtesam I. Al-Alawi (2021): A study of the effects of work-family conflict, family-work conflict, and work-life balance on Saudi female teachers’ performance in the public education sector with job satisfaction as a moderator.vol 22,Journal of International Women’s Studies, Issue 1,pp.486-503.
[2] Andrea Gragnano, Silvia Simbula and Massimo Miglioretti, (2020) Work-Life Balance: Weighing the Importance of Work-Family and Work–Health Balance,Int. J. Environ. Res. Public Health, pp.1-20.
[3] Christian Wiradendi Wolor, Destria Kurnianti, Siti Fatimah Zahra, S. Martono, (2020) The importance of work-life balance on employee performance millennial generation in Indonesia , Vol 7 , Journal of Critical Reviews, Issue 9,p-2.
[4] Tahani H. Alqahtani (2020): Work Life Balance of Women Employee, Granite Journal Vol. 4, Iss. no 1,pp.37-42.
[5] Aqeel Ahmed Soomro, Robert J. Breitenecker and Syed Afzal Moshadi Shah (2018) Relation of work-life balance, work-family conflict, and family-work conflict with the employee performance-moderating role of job satisfaction,South Asian Journal of Business Studies, Vol. 7 No.1,p.10.
[6] Indu Gautam, Sameeksha Jain (2018): A Study of Work Life Balance: Challenges and Solutions, International Journal of Research in Engineering, IT and Social Science, pp.198-217.
[7] Thriveni Kumari and Dr.Rama Devi (2015): A Study on Work Life Balance of Women Employees in Selected Service Sector, Pacific Business Review International, Vol.7, Iss.10, pp.17-23.
[8] Yadav, R. K., & Dabhade, N. (2013). Work Life Balance And Job Satisfaction Among The Working Women Of Banking And Education Sector – A Comparative Study. International Journal of Advancement in Education and Social Sciences, 1(2), pp. 17-30.
[9] Madipelli. S, Sarma.VS V, Chinnappaiah Y (2013): Factors causing work life imbalance among working women-a study on school teachers. The Indian Journal of Industrial Relations. Vol.48 (4), pp. 621-633.
[10] S. Padma, M. S. (2013): Role of Family Support in Balancing Personal and Work-Life of Women Employees, IJCEM International Journal of Computational Engineering & Management, Vol. 16 Issue 3, May 2013, pp 93-97.
[11] Lakshmi Narayanan et.al (2013) Lakshmi Narayanan. S and Dr.A.Savarimuthu (2013): Work-Family Conflict-An Exploratory Study of the Dependents Child’s Age On Working Mothers Rev. Integr. Bus. Econ. Res. Vol.2 (1), pp. 449-470. Hindustan Times (2013)
[12] Madhusudhan, V. G. & Nagaraju, K. (2013): Work Life Balance of Teaching Faculty with Reference to Andhra Pradesh Engineering Colleges. Global Journal of Management and Business Studies, Vol. 3, No. 8, pp. 891-896.
[13] Santhana, L. K., Gopinath S. S. (2013). Work Life Balance of Women Employees with reference to Teaching faculties. International Monthly Refereed Journal of Research in Management and Technology-II.
[14] Ramanithilagam V; Dr.C.S.Ramanigopal (2012): Role of Emotional Intelligence In Work/Life Balance of Women Employees, South Asian Journal of Marketing & Management Research, Vol.2 (4), pp.207-214
[15] Rajadhyaksha. U. and Velgach. S. (2009): Gender, gender-role ideology and work-family conflict in India. Paper presented at the annual meeting of the Academy of Management, Chicago, USA.

Unggul Priyadi

Economics; Monetary; Fiscal; Inflation; Vector Error Correction Model

The steadiness of a country’s economy can be seen from the expansion rate. The reason for this study is to analyze the impact of cash circulation on expansion and the foremost compelling arrangements for swelling issues in Indonesia, utilizing time arrangement information in 2010-2019 and utilizing the Vector Error Correction Model (VECM) show. The results found that the money supply and assess incomes impact swelling and there’s a one-way causality relationship. For variable intrigued rates don’t affect each other’s expansion. The comes about of the causality test too appeared that intrigued rates don’t affect each other on the variable sum of cash supply, as well as the variable charge receipts don’t influence each other on the variable sum of cash supply. The clarification of the VECM show gauges for the most part demonstrates the presence of long-term connections and short-term connections of each variable.

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[2] Havrilesky,Thomas M,&Amp Boorman, John T. (1976). Current issues in monetary theory and policy USA: AHM Publishing Corporation.
[3] Mahendra. A. 2016. Analysis of THE Influence of MS, Interest Rates and Exchange Rates on Inflation in Indonesia. Journal of Accounting Research. Journal of Economics and Business of Indonesia. Vol. 5. No.204. Mishkin, F. S. (2001). The Economics of Money Banking, and Financial Markets (6th Edition). Pearson Education International, USA or Canada.
[4] Nofiatin, I. (2013). Money Supply, and Composite Stock Price Index (JCI) Period 2005 – 2011. Journal of Management Applications, 11(2), 1–8.
[5] Opriyanti, R. (2017). Analysis of the Effectiveness of Monetary Policy and Fiscal Policy in Addressing Inflation in Indonesia. Media Trend, 12(2), 184. https://doi.org/10.21107/mediatrend.v12i2.2942.
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[7] Sutawijaya,A. (2012). Effect of Economic Factors on Inflation in Indonesia. Journal of Organization and Management, Volume 8, Number 2.
[8] Camerer, Colin F, Teck-Hua Ho, and Juin-Kuan Chong, “A cognitive hierarchy model of games,”The Quarterly Journal of Economics, 2004,119 (3), 861–898.
[9] Coibion, Olivier, Dimitris Georgarakos, Yuriy Gorodnichenko, and Michael Weber, “Forward guidance and household expectations,”NBER Working Paper No. 26778, 2020.
[10] Farhi, Emmanuel and Iván Werning, “Monetary policy, bounded rationality, and incomplete markets,”American Economic Review, 2019,109(11), 3887–3928.
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[12] Sims, Christopher A, “Implications of rational inattention,”Journal of Monetary Economics, 2003,50(3),665–690.
[13] Woodford, Michael, “Monetary Policy Analysis When Planning Horizons Are Finite,” in “NBER Macroeconomics Annual 2018, Volume 33,” University of Chicago Press, 2019.

Dr. M. Moses Antony Rajendran, Dr. D. Vinoth Kumar, Nishanth Arul Dominic

Impact of Economy; Business World; Business Economy.

The cornerstone for globalization was laid down by brave adventures who were on a quest to discover countries which were isolated from the rest of the world. The diverse culture, cuisine, attire of the people from the newly discovered countries was something which attracted more travelers. It is evident that the lockdown has had severe impact on all global economies whether it would have a lasting impact depends upon on the growing rate of each country and their ability to indulge in production activities even with the restrictions in place due to the rising cases and this solely lies in the hands of the government. If a sizeable number of citizens are vaccinated this would help in achieving herd immunity which would result in decreased infection rate. As the cases decrease the government is more prone to relaxing the lockdown restrictions and lift the curfew which would aid the industries to start production and gradually the economic activities would flourish.

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[3] Bezemer, D. J. (2011). The credit crisis and recession as a paradigm test. Journal of Economic Issues, 45(1), 1-18.
[4] Banchmann.R (2020) Understanding institutional bases trust building processes in inter organizational relationships. Organizationan studities, 32(2), 281-301.
[5] Cai & Chan, (2009). The chinese hukou system at 50. Eursian geography and economics, 50(2), 197-221
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[8] Dullien, Kotte, Márquez, and Priewe (2010), Verick and Islam (2010). Interpreting the Causes of the Great Recession of 2008. Financial system and macroeconomic resilience: revisited. Bank for International Settlements.
[9] El-Erian, M. (2020). The Coming Coronavirus Recession and the Uncharted Territory Beyond. Foreign Affairs, Media Report. Available at: https://www.foreignaffairs.com/articles/2020-0317/coming-coronavirus-recession
[10] Financial Times (2020). Global recession already here, say top economists. Available at: https://www.ft.com/content/be732afe-6526-11ea-a6cd-df28cc3c6a68
[11] Frankel, J., &Saravelos, G. (2012). Can leading indicators assess country vulnerability? Evidence from the 2008–09 global financial crisis. Journal of International Economics, 87(2), 216-231. Retrieved from https://www.sciencedirect. com/science/article/abs/pii/ S0022199611001735?via%3Dihub
[12] Georgieva, K (2020). IMF Managing Director Kristalina Georgieva’s Statement Following a G20 Ministerial Call on the Coronavirus Emergency. IMF Press statement. Available at: https://www.imf.org/en/News/Articles/2020/03/23/pr2098- imf -managing-director-statementfollowing-a-g20-ministerial-call-on-the-coronavirus-emergency
[13] Gormsen and Koijen (2020) analyze the dynamics of the index and dividend futures around some of the key events during the crisis for the European, Japanese, and US market.
[14] Horowit, J. (2020). The global coronavirus recession is beginning. CNN. Media report. Available at: https://edition.cnn.com/2020/03/ 16/economy/global-recession-coronavirus/index.html
[15] Larry Elliot, L. (2020). Prepare for the coronavirus global recession. The Guardian. Media report. Available at: https://www.theguardian. com/business/2020/mar/15/prepare-for-the-coronavirusglobal-recession
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[17] Ozili, P. K. (2019). Blockchain Finance: Questions Regulators Ask. Disruptive Innovation in Business and Finance in the Digital World (International Finance Review, Vol. 20), Emerald Publishing Limited, 123-129. Social Distancing
[18] Orlik, Tom, Jamie Rush, Maeva Cousin, and Jinshan Hong. 2020. “Coronavirus Could Cost the Global Economy $2.7 Trillion. Here’s how.” Bloomberg, 2020.
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